The company said it believed the partnership with Tianjin University complements Clariant Catalysts' existing cooperation agreements with top educational and research institutions in China. All these will benefit the local Chinese market.
The company, which excels in image processing and computer vision technology, said the new phone, dubbed "Darling", can deliver immersive entertainment experience as consumers can use it to capture 720-degree VR photos and videos by just touching a virtual button. The model Protruly unveiled last year can only support 360-degree photos.
The company plans to sell either all or a majority of its Shimao Gongsan retail property in a popular area on the east side of Beijing by divesting from two firms it owns, two people with direct knowledge of the matter said. LeEco has been in talks with potential investors for some months now, the first person said.
The company holds a 55 percent share of the market for imported medical radiation devices in China, and accounts for 45 percent of the country's radiation devices market, Hausmann said.
The company's net profit attributable to shareholders was 47.59 billion yuan. The profit surge was mainly due to strong performances in online retailing and cloud computing, the company said.
The company plans to improve its annual production capacity in China to 2 million units by 2020, which will almost double this year's output.
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The company statement said net profit jumped about 33.4 percent to 28.05 billion yuan in 2017, while revenue reached 242.9 billion yuan. In addition, its sales value of homes rose 45.3 percent to nearly 530 billion yuan, making it one of the top three developers in China by sales value.
The company will exert its edge in research and production, boost related industries to settle in Xi'an and contribute to the economic and social progress.
The competition's offline preliminary round in the domestic market started in Hong Kong on April 15 and extended to Israel, Germany and the United States. The online competition kicked off in August and attracted around 400 teams from across the world.
The competition was organized by Peking University's Center for Wushu Research.